CWA Asset Management Group LLC Invests $948,000 in Imperial Oil Limited (NYSEAMERICAN:IMO)

CWA Asset Management Group LLC bought a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,460 shares of the energy company's stock, valued at approximately $948,000.

Other hedge funds have also modified their holdings of the company. Gold Investment Management Ltd. lifted its holdings in shares of Imperial Oil by 2.0% during the third quarter. Gold Investment Management Ltd. now owns 27,718 shares of the energy company's stock worth $1,948,000 after purchasing an additional 537 shares during the period. Olympiad Research LP purchased a new stake in Imperial Oil in the 3rd quarter valued at about $388,000. Radnor Capital Management LLC purchased a new stake in Imperial Oil in the 3rd quarter valued at about $314,000. Stephens Inc. AR lifted its stake in shares of Imperial Oil by 9.0% in the 3rd quarter. Stephens Inc. AR now owns 14,521 shares of the energy company's stock valued at $1,023,000 after purchasing an additional 1,196 shares in the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in shares of Imperial Oil in the 3rd quarter valued at approximately $207,000. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IMO has been the topic of a number of analyst reports. StockNews.com lowered Imperial Oil from a "buy" rating to a "hold" rating in a report on Wednesday, August 28th. Scotiabank reiterated a "sector perform" rating and issued a $110.00 price target on shares of Imperial Oil in a research report on Wednesday, September 25th. Finally, Wolfe Research assumed coverage on shares of Imperial Oil in a research report on Thursday, July 18th. They set an "outperform" rating and a $108.00 target price for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $109.00.

Imperial Oil Price Performance

NYSEAMERICAN IMO traded up $0.34 during mid-day trading on Monday, reaching $73.60. 224,024 shares of the stock were exchanged, compared to its average volume of 399,774. Imperial Oil Limited has a one year low of $52.97 and a one year high of $80.17. The company has a market capitalization of $38.89 billion, a PE ratio of 10.92 and a beta of 1.44. The company has a quick ratio of 1.16, a current ratio of 1.44 and a debt-to-equity ratio of 0.17.

Imperial Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Tuesday, December 3rd will be given a $0.4304 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Tuesday, December 3rd. Imperial Oil's dividend payout ratio (DPR) is currently 26.53%.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.